REPORT TO COUNCIL
SUBJECT
Title
Action to Authorize the City Manager to Execute an Agreement with EQR-Lincoln Laguna Clara L.P. ("Developer") for the Installation and Operation of Private Recreational Amenity Improvements to Satisfy a Portion of Developer's Parkland Obligations for the 447 Unit Apartment Project Located at 3131 Homestead Road, such Improvements to be Funded at Developer's Sole Cost
Report
COUNCIL PILLAR
Enhance Community Sports, Recreational and Arts Assets
Enhance Community Engagement and Transparency
Deliver and Enhance High Quality Efficient Services and Infrastructure
BACKGROUND
In July 2014, the City Council adopted Ordinance No.1937, adding Chapter 17.35 "Park and Recreational Land" to the Santa Clara City Code (SCCC). The purpose of City Code Chapter 17.35 is to help mitigate the impacts of new housing development growth on existing parkland and recreational facilities pursuant to the provisions of the State of California Quimby Act (Quimby) and/or the California Mitigation Fee Act (MFA). New residential developments are required to dedicate developed park and recreational land and/or pay a fee in-lieu of parkland dedication.
On September 16, 2020, the Architectural Review Committee approved a development application located at 3131 Homestead Road to construct a four-story apartment building with 447 apartment units, subgrade and surface parking on-site, landscaping, and site improvements (Project).
The Project will meet its parkland dedication requirements of 1.0484 acres as follows:
1. Installation of 1.2 acres of private recreational amenity improvements which provides a credit of 50% against the parkland dedication requirement; and
2. Payment of $1,928,714 in Mitigation Fee Act in-lieu fees which was received in May 2023. An additional payment of $93,271 was received in May 2024 due to a reduction in the amount of private recreational amenity space, which lowered the eligible credit against the parkland dedication requirement...
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